The ECB holds its latest policy-setting meeting | 10 December 2020

EURUSD trading plan:

Talks between U.K. Prime Minister Boris Johnson and European Commission President Ursula von der Leyen late Wednesday ended without a breakthrough, confirming very large gaps remain over issues from fisheries to dispute resolution. The two sides gave themselves until the end of the weekend to seal a new trade pact, with around $1 trillion in annual trade at risk of facing tariffs and quotas if a deal cannot be reached before transition arrangements end on December 31. The European Central Bank holds its latest policy-setting meeting later today, and the central bank is widely expected to increase and extend its pandemic bond-buying program. This is a negative signal for the European currency!

Investment idea: Sell 1.2120 and take profit 1.2170.